Asset Management One Co. Ltd. cut its stake in Devon Energy Corp (NYSE:DVN) by 13.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 256,303 shares of the energy company’s stock after selling 41,173 shares during the quarter. Asset Management One Co. Ltd. owned about 0.06% of Devon Energy worth $7,308,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in DVN. Westside Investment Management Inc. acquired a new position in Devon Energy in the second quarter valued at approximately $45,000. Advisory Services Network LLC increased its position in shares of Devon Energy by 43.1% in the second quarter. Advisory Services Network LLC now owns 1,712 shares of the energy company’s stock valued at $48,000 after buying an additional 516 shares in the last quarter. Resources Investment Advisors LLC. increased its position in shares of Devon Energy by 8,181.8% in the second quarter. Resources Investment Advisors LLC. now owns 1,822 shares of the energy company’s stock valued at $52,000 after buying an additional 1,800 shares in the last quarter. Signaturefd LLC increased its position in shares of Devon Energy by 46.0% in the first quarter. Signaturefd LLC now owns 2,569 shares of the energy company’s stock valued at $81,000 after buying an additional 809 shares in the last quarter. Finally, Quattro Financial Advisors LLC purchased a new stake in shares of Devon Energy in the second quarter valued at approximately $90,000. Institutional investors and hedge funds own 85.85% of the company’s stock.
In other Devon Energy news, CAO Jeremy D. Humphers sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $21.66, for a total transaction of $32,490.00. Following the completion of the transaction, the chief accounting officer now owns 42,475 shares of the company’s stock, valued at $920,008.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.63% of the company’s stock.
Several brokerages recently commented on DVN. Guggenheim set a $35.00 price target on Devon Energy and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Piper Jaffray Companies set a $39.00 price target on Devon Energy and gave the stock a “buy” rating in a research report on Friday, May 31st. Seaport Global Securities reissued a “buy” rating on shares of Devon Energy in a research note on Friday, June 21st. Citigroup lowered their price objective on Devon Energy from $36.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Finally, Wells Fargo & Co boosted their price objective on Devon Energy from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $36.42.
NYSE:DVN opened at $24.25 on Friday. Devon Energy Corp has a 52-week low of $20.37 and a 52-week high of $40.88. The stock’s 50 day moving average price is $23.72 and its 200 day moving average price is $27.70. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $9.99 billion, a PE ratio of 16.26, a P/E/G ratio of 1.69 and a beta of 2.34.
Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.36 by $0.07. Devon Energy had a return on equity of 8.42% and a net margin of 39.80%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the firm earned $0.34 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Devon Energy Corp will post 1.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, December 12th. Devon Energy’s payout ratio is currently 27.91%.
Devon Energy Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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